Mubasher: Credit Rating and Collection (Tahssilat) achieved a profit of KWD 1.08 million ($3.53 million) during the first quarter of 2017 versus a loss of nearly KWD 138,340 ($452.240) in the same period in 2016.

The positive results are attributed to the sale of the company’s right from the settlement with Adeem Investment and Wealth Management at about £5.069 million for 8.25 million shares from Frontguard Holding Company, a bourse statement issued on Sunday said.